@WtasupwithBas - the New options are to be offered to EXISTING holders of heads, with a record date of , or as at 18th October. They will be offered on a 2 options for every 5 shares basis, so thats where your 40% comes from.
So existing option holders have until the 18th to convert their options to heads to qualify for the new options.
@WtasupwithBas - the New options are to be offered to EXISTING...
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